TDS - Depreciation on lease of P&M

As per explanation  to sec (1):-

depreciation is available to lessor. circular no.2 of 2001 dated feb 9 2001 has cleared that as -19 has nothing to do with allow of dep in It act.

but as per case law IFCI vs CIT (2005) 4 SOT 223 Delhi. lessee is entitled to dep. where leasing agreement is mere financing agreement and if he can excercise all the right of ownership on his own not on behallf of lessor he can claim dep. as -19 has no relation with it only criteria is ownership.

And as far as TDS is concerned i think it would be deducted on both as we call it lease rent together INTT & MLP are terms of AS-19 & IT ACT does nt recog. it so it woulld be deducted on both u/s 194-I 

In my opinion you charge TDS separately on the lease amount under section 194-I and on the interest payment if payment exceeds Rs. 5000 as per section 194-A.